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<br /> '� AGREEMENT SUBORDINATING A FINANCING STATEMENT �� �
<br /> �' �
<br /> � This Agreement is made this�1 ST day of December, 1998 by and ��
<br /> � �• between The EQUITABLE BUILDING &LOAN ASSOCIATION OF GRAND , _
<br /> : . ISIAND, NEBRASKA,A Federal Savings Bank, herPin referred to�s The
<br /> • � Association, and The EQUITABLE BUILDING & LOAN ASSOGIATION OF
<br /> GRAND ISLAND, NEBRASKA, A Federal Savings Bank,which has a prin�fpal �
<br /> � place of business In Half County, Nebraska, herein referred to as Lender.
<br />� The parties recite and declare that:
<br /> - � r A. The A�socfatlon Is the awner and holder of a certain Note and
<br />' Financing Statement dated May 27, 1998, which Financlrig Statement
<br /> � is reco�ded in the Register of Qeeds Offico of Hall �ounty, Grand
<br />• ; .� Island, Nebraska, on June 2, 1998, ag Document Number 98-105282 of
<br /> _ t�?Y����nty; covering: in part,the following described property:
<br />=*�r� � LOTS SEVEN(7)AND EIGHT(8)ON THE EAST SIDE OF THE EAST
<br />*T� �� PORTION OF KUESTER'S LAKE, SITUATED ON A PART OF THE EAST HALF
<br /> '�" �� � OF THE SOUTHNlEST QUARTER OF SECTION 13,TOWNSHIP 11 NORTH,
<br />=�:.•-•� � RANGE 9, IN HALL COUNTY, N�BRASKA.
<br />��.�. . :... ,
<br />_� `�"''� B. Lender is about to loan the sum of One Hundred Sixty Thousand and
<br />:�,:., �_,;
<br /> . � No/100($160,000.00) Dollars on a Note and Financing Statement
<br />'�.�.;�,A�• "' securing such Note to provide for the payrnent of a Note to Lender
<br /> ��;�-•;;��,���,.: secured by a Financing Statement filed against the above described
<br /> :�,..,,.:..,�..�, property,
<br /> �rt:.j.:.Y ��,
<br /> �: � � C. To induce Lender to make such loan, it is necessary that the Financing
<br /> ��` Statement held by The Assaciation,described in Section A above, be
<br />=i� subordinated to the lien of the Financing Statement about to be made in
<br /> ' ��� favor ofthe Lender�s set forth above as it applies to the above
<br />-'�"���=� � described property only.
<br />-• '�:�,'s.
<br /> ,.. .. .
<br />- �� � For the reasons set forth above, and consideration�f the mutual covenants
<br /> � and promises of the parties hereto, The Association and Lender covenant
<br /> and agree as follows: _
<br /> . r _
<br /> 1. Subordination. The Association hereby covenants, consents -
<br /> � and agrees with Lender that the above-mentioned Financing
<br /> � Staterr�ent is and shall continue to be subject to and subordinate
<br /> f in lien to the lien of the Financing Statement about to be made -.
<br /> to Lender stated above. -
<br /> 2. Consideration. In consideration of The Association so j
<br /> .w.....�:....•c..,, e►,o G�.,�.,�inn�tatampnt held bv it to the I
<br /> . _ :-:.-•-.-�.'.'_' ='-'l �4U1/IVIIIaa111
<br /> y .,,.. . ,,.M.......� ------••-- - i
<br />� Financing Statement made to Lender, Lender shall make ths i
<br />- above described loan to TIM C. PLATE, an unmarried person,
<br /> . secur�d by a,Financing St�tement identified as document ,
<br /> - Number�� - ' � � ' , filedon /����_, in
<br /> the Register of Deeds ffice of Hall County, Grand Island,
<br /> Nebraska.
<br /> .. �
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